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Atlanta Fed’s GDPNow Q2 tracker drops from 2.3% to 2.4%


Atlanta Fed’s GDPNow estimate for second-quarter growth

The Atlanta Fed GDPNow Q2 growth estimate rises to 2.4% from 2.3% on July 10. In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2023 is 2.4 percent on July 18, against 2.3% on July 10. nowcasts for real personal consumption expenditure and real government expenditure growth in the second quarter of 1.2% and 2.4%, respectively, to 1.4% and 2.8% were partially offset by a decrease the nowcast of real gross private domestic investment growth in the second quarter from 10.5% to 9.4%, while the nowcast of the contribution of the change in real net exports to real GDP growth in the second quarter fell from -0.72 percentage point to -0.67 percentage point.

The next estimate will take place on Wednesday, July 19.

The peak of growth in the second quarter was 2.9%. The lowest was 1.6%.



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